|
|
|
|
|
|
EDO WINS $6.3 MILLION AIRCRAFT ARMAMENT CONTRACT
-- First International Sale of Smart Racks --
NEW YORK - May 10, 2004 - EDO Corporation (NYSE: EDO) has been awarded a $6.3 million "Foreign Military Sale" contract for 34 production-phase BRU-57 bomb-release units on F-16 aircraft. Deliveries are expected to be completed by 2006.
Under the Foreign Military Sales program, U.S. defense contractors, such as EDO, sell defense equipment indirectly to foreign governments through U.S. Government contracting agencies. This contract’s foreign-government customer is not being disclosed.
EDO produces a broad range of sophisticated devices that allow for the storage and release of the bombs and missiles carried on military aircraft. The BRU-57 is a multiple-weapons carriage system that is capable of integrating the latest technology munitions known as "smart weapons." The BRU-57 enables individual targeting and release of each weapon. The U.S. Air Force has ordered approximately 400 BRU-57 units to date.
CEO James M. Smith explained that this is the first international sale
of the BRU-57 "Smart Rack." He said that "because the BRU-57 doubles the
‘smart weapon’ payload that an aircraft is able to deliver on a single mission,
there are substantial advantages to be gained by upgrading many of the jet fighters in
use today. We believe there is an international market potential of more than 5,000 aircraft
that can benefit from the
BRU-57."
EDO Corporation provides military and commercial products and professional services, with core competencies in a wide range of critical defense areas, including:
EDO was founded in 1925, and is headquartered in New York City. The company had revenues last year of $461 million, and employs 2,700 people.
Forward-Looking Statements
Certain statements made in this release, including statements about future revenue, are
forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements are based on current expectations, estimates and projections
about the company's business based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. Therefore, actual outcomes and results
may differ materially from what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above and the following: changes in
demand for the company's products and services, product mix, the timing of customer orders
and deliveries, the impact of competitive products and services and pricing, and other
risks discussed from time to time in the company's Securities and Exchange Commission
filings and reports. In addition, such statements could be affected by general industry
and market conditions and growth rates, and general domestic and international economic
conditions. Such forward-looking statements speak only as of the date on which they are
made, and the company does not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this release.
Contact:
William A. Walkowiak, CFA
Director of Investor Relations
(212) 716-2038
ir@edocorp.com
Privacy Policy | Guest Ledger | Copyright© 2004
